Showing posts with label foreign takeovers. Show all posts
Showing posts with label foreign takeovers. Show all posts

Friday, May 25, 2012

Canada For Sale

At least that's all I can conclude given that the ineffectual Investment Canada Act is about to become completely impotent thanks to changes announced today; in a short time, the government will not even bother reviewing foreign investments in or purchases of Canadian companies worth less than $1 billion.

National borders? Economic sovereignty? Closures of branch plants? Completely irrelevant in the new Canada being formed by Harper Inc.

Tuesday, December 13, 2011

There's No Business Like Snow Business

When I was young, there used to be a polite term for B.S. We called it a snow job, and that seems as apt a description as any of the latest Harper government capitulation to the cancerous tentacles of unfettered capitalism running virtually unchecked throughout this country thanks to our 'leader's' diseased love of all things corporate.

As I wrote last evening, despite the fact that U.S. Steel lost its appeal against the federal government, it is essentially getting a free pass for its Hamilton operation by promising to keep the plant going until 2015 and promising capital investments of $50 million by the end of that time. Of course, for those able to think critically and not simply trust to the magnanimity of a company that already betrayed its employment promises and locked out its workers for almost a year after it was given permission to buy the former Stelco, these promises mean nothing.

The failure of the Harper government to show any integrity in attempting to put the force of law behind foreign takeover promises does mean something, however, to those affected by this sell-out.

Consider the following:

Opposition politicians and workers: outraged by a deal they say contains no specifics on employment or production in Canada and offers nothing to workers harmed by the company’s failure to keep its original promises.

Leaders of the United Steel Workers: “blindsided” by the deal, even though they have intervener status in the action to seek back wages its members would have earned under the company’s original promise to employ an average of 3,105 workers for three years after purchasing Stelco.

“We didn’t know any of this was going to happen and yet we’re the ones affected by their failure to live up to their promises,” said Rolf Gerstenberger, president of Local 1005, which represents workers in Hamilton. “Where’s our redress now? Our members were unjustly laid off and they should be made whole.”

Bill Ferguson, president of Nanticoke’s Local 8782: “incomprehensible” for the government to drop the case without ensuring workers got some kind of compensation.

“We are shocked that our government has cut this secret deal, without even the decency of consulting those who are most affected,” he added. “Our communities and our working families — particularly those whose jobs have disappeared — have been abandoned by U.S. Steel, and now our own government.”


Ken Neumann, Canadian director of USW: “This is a complete abdication of the government’s responsibility to Canadian workers,” he said. “It’s just outrageous that we have no commitment to jobs now.”

Local MPs Wayne Marston and Chris Charlton, both of the NDP, said they were troubled by utter lack of detail in the settlement announcement.

“The government is dropping this lawsuit in exchange for more promises after taking the company to court for not keeping its promises in the first place,” Charlton said. “For all we know this just allows the company to fatten the calf for three years and then sell it.”

Of course, the Harper government's local cheerleader, M.P. David Sweet, a practising Christian blithely untroubled by anything his government does, even its export of death, I mean asbestos, to third-world countries, described the capitulation “as an “extraordinary” achievement that ensures steel production in Hamilton through the next three years.

“By agreeing to this (U.S. Steel) has indicated that they are here for the long term,” he said. “Agreeing to invest that kind of money sends a very positive signal that they are here for the long term.”


And of course, with the current band of renegades holding the reins of power federally, the voices and opinions of Mr. Sweet and his ilk are the only ones that matter here, aren't they?